The Philadelphia 76ers officially announced Ben Simmons' contract extension on Tuesday. Simmons signed a five-year, $170 million maximum rookie contract extension with the Sixers.

General manager Elton Brand released a statement on the move, calling Simmons an “important piece of our core,” while also adding that the Sixers' floor general is “one of the NBA’s most dynamic and talented young players.”

This past season, Ben Simmons averaged 16.9 points, 8.8 rebounds and 7.7 assists while shooting 56.3 percent from the field. The 2018 Rookie of the Year recorded 42 double-doubles and 10 triple-doubles.

As we all know, Simmons has yet to hit a 3-pointer in his NBA career. The talented lefty doesn't have a mid-range game either. The Sixers are giving Simmons this lucrative contract extension with the hopes that the former No. 1 overall pick will have a jump shot this coming season, or at least in the future. That's the only thing missing from Simmons' game, as he's already an elite defender, passer and a nightmare to guard in transition.

Many believe the Sixers are the favorite to win the Eastern Conference now that Kawhi Leonard is in the Western Conference. Philly lost Jimmy Butler and JJ Redick, but rebounded nicely by signing Al Horford and acquiring Josh Richardson from the Miami Heat in the sign-and-trade deal for Butler.

For the Sixers to win the title in 2019-20, Simmons will have to have some resemblance of a perimeter game.